Dublin, Jan. 07, 2022 (GLOBE NEWSWIRE) -- The "Global Hair Accessories Market By distribution channel (general stores, online, and Supermarkets & Hypermarkets), By product (Elastics & Ties, Wigs & Extensions, Clips & Pins, Headbands, and Other Products), By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" report has been added to ResearchAndMarkets.com's offering.
The Global Hair Accessories Market size is expected to reach $25.9 billion by 2027, rising at a market growth of 9.6% CAGR during the forecast period.
Hair accessories are made up of materials like plastic, wood, and metals, which are decorated by using threads, ribbons, or nets and are embedded with stones, pearl glitters, among others. In comparison to women's hair accessories, men have comparatively less options in the market since their options are limited to hair elastics, headbands, bandanas, Alice bands, and bobby pins.
Factors like an increasing preference for fashionable or trendy products serving utility purposes along with trying out trendy hairdo are estimated to propel the growth of the hair accessories market over the forecast period. In addition, swift development in the advanced production technologies, the prevalence of various fashion trends & hairstyles, and the high accessibility of attractive accessories is expected to attract more customers to invest in it and hence, fuel the growth of the market. Also, the launch of various products like ties, barrettes, clips, and headbands having trendy materials, designs, and shapes that are functional as well as fashionable is expected to augment the growth of the hair accessories market in the upcoming years.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic has disrupted the global supply chain of various goods. Companies across the world have witnessed a decline in sales and revenue due to various restrictions like complete lockdown, the temporary ban on manufacturing units, and restrictions on imports & exports. China is among the key suppliers of raw materials for the production of different kinds of hair accessories and several key manufacturers have been dependent on China for the same purpose. But, since the onset of the virus was in China, many governments have stopped trading across borders with China.
Due to this, many hair accessories companies have to reduce or stop their production, which ultimately affected the growth of the hair accessories market. Thus, the COVID-19 pandemic has negatively impacted the demand and growth of the hair accessories market across the world.
Market Growth Factors:A growing fashion trend among Millennials and Gen Z
Millennials and Gen Z are highly influenced by film stars and other celebrities and they are more eager to try out the look of their favorite celebrities, which is motivating them to spend more on trendy hair accessories. Along with that, they are majorly investing in making a style statement from their appearance that makes them look more fashionable. Due to this, the demand for various fashion products including hair accessories is increasing across the world.
Rising disposable income of consumers
Increasing consumer disposable income is enabling people to spend on various apparel, fashion, and accessories. Along with that, the rising population of working women is contributing to the market growth as they spend a huge amount on these fashionable accessories. This is expected to further propel the growth of the hair accessories market during the forecast period. In addition, the trend of showing off luxurious pictures on social media platforms is expected to also augment the growth of the market.
Marketing Restraining Factor:Possibilities of hair damage
Using hair accessories can increase the risk of hair damage. Hairpins and rubber bands are the most commonly used hair accessories across the world, but these accessories can lead to hair fall as hair can be entangled. Along with that, the usage of wrong accessories can lead to damaged hair and result in massive hair fall. It is important for a person to understand their hair type and then choose a hair accessory that can fit their hair type.
Distribution Channel Outlook
Based on distribution channels, the hair accessories market is fragmented into hypermarkets & supermarkets, general stores, and online. Among all, the general stores segment garnered the highest revenue share in 2020 and is estimated to continue this trend over the forecast period. This growth is attributed to the increasing inclination of consumers towards buying hair accessories from general stores. These general stores consist of small-to-large neighborhood stores.
Product Type Outlook
On the basis of product type, the hair accessories market is segmented into clips & pins, headbands, wigs & extensions, elastics & ties, and others. Among these, the elastics and ties segment dominated the hair accessories market with the highest revenue share in 2020 and is projected to continue this trend during the forecast period. It is due to the high accessibility of a broad variety of products with different shapes, designs, and materials.
Regional Outlook
Region-wise, the hair accessories market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific emerged as the prominent region in the hair accessories market with the maximum revenue share in 2020. It is due to the growing population of working women across emerging nations like China and India.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Forever 21, Inc., Fromm International, Annie International, Inc., The Finest Accessories, Inc., SILKE London, Invisibobble, SwirlyCurly Hair, H&M Group, Conair LLC (American Securities), and Good Hair Day (Coty).
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Global Hair Accessories Market by Distribution Channel
3.1 Global General Stores Market by Region
3.2 Global Online Market by Region
3.3 Global Supermarkets & Hypermarkets Market by Region
Chapter 4. Global Hair Accessories Market by Product
4.1 Global Elastics & Ties Market by Region
4.2 Global Wigs & Extensions Market by Region
4.3 Global Clips & Pins Market by Region
4.4 Global Headbands Market by Region
4.5 Global Other Products Market by Region
Chapter 5. Global Hair Accessories Market by Region
Chapter 6. Company Profiles
6.1 Forever 21, Inc.
6.1.1 Company Overview
6.1.2 Recent strategies and developments:
6.1.2.1 Partnerships, Collaborations, and Agreements:
6.2 Fromm International
6.2.1 Company Overview
6.3 Annie International, Inc.
6.3.1 Company Overview
6.4 The Finest Accessories, Inc.
6.4.1 Company Overview
6.5 SILKE London
6.5.1 Company Overview
6.6 Invisibobble
6.6.1 Company Overview
6.6.2 Recent strategies and developments:
6.6.2.1 Product Launches and Product Expansions:
6.6.2.2 Partnerships, Collaborations and Agreements:
6.7 SwirlyCurly Hair
6.7.1 Company Overview
6.8 H&M Group
6.8.1 Company Overview
6.8.2 Financial Analysis
6.8.3 Regional Analysis
6.8.4 Recent strategies and developments:
6.8.4.1 Partnerships, Collaborations, and Agreements:
6.8.4.2 Geographical Expansions:
6.9 Conair LLC (American Securities)
6.9.1 Company Overview
6.9.2 Recent strategies and developments:
6.9.2.1 Product Launches and Product Expansions:
6.1 Good Hair Day (Coty)
6.10.1 Company Overview
6.10.2 Recent strategies and developments:
6.10.2.1 Product Launches and Product Expansions:
For more information about this report visit https://www.researchandmarkets.com/r/wzyxvg
